President Donald Trump’s trade war with China is turning into a different kind of “war on Christmas” as consumers can now expect to pay more for their holiday decor. The Trump administration just increased tariffs to 25% on a wider category of goods, including holiday lights. “If an American company buys $10,000 worth of Christmas lights, then it has to pay a 25% tax to the U.S. government on those Christmas lights,” Bill Adams, vice president at PNC Financial Services Group, told BankRate. “That increases the price of Christmas lights in the U.S.”While Christmas is still more than seven months off, companies said they were already being hit. “That’s probably one of the first things that’s been affected.”But it’s not just the holiday lights that could cost more.

Source: Huffington Post May 22, 2019 09:38 UTC